Nicosia, Cyprus. Cyprus shipping strengthened its position as one of the island’s most important economic sectors in 2025, contributing around 7 per cent of GDP, or approximately €1.9 billion, according to the Cyprus Shipping Chamber’s annual report. The sector continued to support the wider economy without direct state investment.
Economic contribution and global position
The report said Cyprus shipping reinforced the international standing of the Cyprus flag, which remains recognised for its reliability and prestige.
Cyprus maintained the fifth largest merchant fleet in Europe and the fourteenth largest worldwide, while controlling more than 4 per cent of the global fleet.
The island also remained one of the world’s leading shipmanagement centres, with Cyprus-based companies carrying out more than 20 per cent of global third-party shipmanagement activity.
President’s remarks
President Nikos Christodoulides said Cyprus shipping had moved beyond being only an economic activity, describing it as a strategic national asset.
He said Cyprus shipping is a pillar of the country’s international identity and a strategic asset. He added that the sea had always acted as Cyprus’ bridge to the world, shaping the island’s identity and role as a maritime nation.
Chamber membership and employment
Since its establishment in 1989, the Cyprus Shipping Chamber has grown from 17 founding members to 199 shipowning, shipmanagement and shipping-related companies.
In 2025, the chamber welcomed 12 new members, ending the year with 46 domestic members, one international member, 119 domestic associate members and 33 international associate members.
The wider shipping sector in Cyprus collectively employs around 9,000 people ashore, while more than 80,000 seafarers serve on vessels owned, controlled or managed by chamber members.